Political Developments: Old Populism Flashcards
Define Populism
A party which claims to represent common people
What was the USA Population in 1860 compared to 1890?
30 million people in 1860, 60 million people in 1890
What would be needed on a larger scale if more humans lives needed to be sustained?
Farmers
What did farmers have to do in order to make their farming more efficient?
Buy new technology for farming
What was a disadvantage of farmers loaning money to buy new technology?
They would often go into debt
What would some banks put interest up to for farmers taking new loans?
300%
What happened with prices of products which made it even more difficult for farmers to pay off loans?
There was constant deflation or inflation
Give an example of when the Federal Government did little to help farmers pay off their debts
Vetoing the 1887 Texas Seed Bill
Give an example of when the Federal Government did do something in the early 1890s to help farmers pay off their debts
Pass the 1890 Sherman Silver Act
What did the 1890 Sherman Silver Act allow for?
4.5 million additional ounces of silver could be bought by the USA every month
When was the term “Populism” created? (To the month)
May 1891
What was another name for the Populist party?
The Peoples Party
Who did the Populist party put up for a presidential candidate in 1892?
James B Weaver
What was the result of the 1892 election for the Populists? (Name 2 pieces of data)
James B Weaver got 1 million votes and captured 5 states
What is the significance of the result of the 1892 election for the Populists?
It showed they were quite a popular party
